The concept of smart vending is expected to continue rising in Taiwan, featuring internet connectivity which allows retailers to boost products sales and reduce maintenance fees. The pandemic accelerated the adoption of contactless retail as consumers avoided crowded places, and thus led to growing opportunities in unmanned retail channels with the support of smart vending machines.
Smart vending machines have been upgraded to address changes in local consumers’ lifestyles and technology developments, from cash payments for drinks and snacks to a multi-payment system. It is important to continue to innovate and utilise smart vending to leverage new retail business opportunities, but at the same time comply with the local regulations.
When a smart vending machine is installed in a strategic location, it offers a greater variety of functions compared to traditional models; for instance, selling products with local characteristics or utilising media advertising to highlight local tourism or current news. Schools and institutions have increasingly installed smart vending machines, not only because they promote contactless transactions, but also because they provide strategic marketing opportunities for businesses that target students and young adults.
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Vending (automatic merchandising) is the sale of products at an unattended point of sale through a machine operated by introducing coins, bank notes, payment cards, tokens or other means of cashless payment. Sales figures cover vended products only (i.e. food, drink and other consumable goods such as vended tobacco, sanitary products and condoms). Services such as the public telephone, launderette facilities, travel tickets, stamps, passport photographs, domestic energy supplies and business card creation are excluded. Coverage includes vending systems installed in public and semi-captive environments only. Hotels, transport networks, recreational centres, shopping centres/malls are included. Factories, offices, hospitals, prisons, schools and other captive environments are excluded.
See All of Our DefinitionsThis report originates from Passport, our Vending research and analysis database.
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